Bio-Rad Laboratories Crushes Earnings Estimates (BIO)

Bio-Rad Laboratories Crushes Earnings Estimates

Bio-Rad Laboratories (NYSE: BIO ) reported earnings on Nov. 6. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Bio-Rad Laboratories missed slightly on revenues and crushed expectations on earnings per share.

Compared to the prior-year quarter, revenue shrank and GAAP earnings per share dropped.

Margins dropped across the board.

Revenue details
Bio-Rad Laboratories reported revenue of $498.7 million. The four analysts polled by S&P Capital IQ expected revenue of $508.3 million on the same basis. GAAP reported sales were 3.4% lower than the prior-year quarter's $516.5 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $1.48. The two earnings estimates compiled by S&P Capital IQ forecast $1.14 per share. GAAP EPS of $1.48 for Q3 were 8.1% lower than the prior-year quarter's $1.61 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 54.8%, 250 basis points worse than the prior-year quarter. Operating margin was 12.9%, 140 basis points worse than the prior-year quarter. Net margin was 8.5%, 40 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $549.7 million. On the bottom line, the average EPS estimate is $1.25.

Next year's average estimate for revenue is $2.05 billion. The average EPS estimate is $4.99.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 182 members out of 191 rating the stock outperform, and nine members rating it underperform. Among 51 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 51 give Bio-Rad Laboratories a green thumbs-up, and give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Bio-Rad Laboratories is hold, with an average price target of $109.50.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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